Download MARKETING MANAGEMENT

MARKETING MANAGEMENT
Project:
Managing Mass Communications
 Professor: Pham Thuy Nguyen Thuy
 Group: 5
 Class Code: MGT337.151A01
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Video Clip
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ADVERTISING
SALES PROMOTIONS
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3
CONTENTS
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5
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EVENTS AND EXPERIENCES
PUBLIC RELATIONS
DIRECT MARKETING
PERSONAL SELLING
WORD OF MOUTH MARKETING
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ADVERTISING
Developing and Managing an advertising program
Deciding on Media and Measuring Effectiveness
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The Five M’s of Advertising
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1.1
Developing and Managing an advertising program
a.
b.
c.
• Setting the Objectives
• Deciding on the Advertising Budget
• Developing the Advertising Campaign
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a.
• Setting the Objectives
• Informative Advertising
• Persuasive Advertise
• Reminders Advertise
• Reinforcement Advertise
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b.
• Deciding on the Advertising Budget
 Factor affecting budget decisions
o Stage of the product life cycle
o Market shares and consumer base
o Competitive and clutter
o Advertising Frequency
o Product substitutability
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 Consumer – Generated Advertising
Look at this!
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c.
• Developing the Advertising Campaign
Message generation
and evaluation
Creative development
and execution
Legal and social
issues
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1.2
a.
b.
c.
d.
e.
f.
Deciding on Media and Measuring Effectiveness
• Deciding on Reach, Frequency, and Impact
• Choosing among Major Media Type
• Alternate Advertising Options
• Selecting Specific Media Vehicles
• Deciding on Media and Measuring Effectiveness
• Evaluating Advertising Effectiveness
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a.
• Deciding on Reach, Frequency, and Impact
Media selection
• Reach (R)
• Frequency (F)
• Impact (I)
• Total number of exposures (E)
E=RxF
• Weighted number of exposures (WE)
WE = R x F x I
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b.
• Choosing among Major Media Type
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c.
• Alternate Advertising Options
Place advertising
Public spaces
Billboards
Product placement
Point of purchase
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d.
• Selecting Specific Media Vehicles
Specific print or electronic medium employed in an advertising campaign.
Allocating the Budget
Audience size measures:
_Circulation
_ Audience Effective
_ Audience
_ Effective ad-exposed audience
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• Deciding on Media and Measuring Effectiveness
e.
Deciding on
• Media Timing macro-scheduling
• Micro-scheduling problem
 The advertise must choose:
•
•
•
•
Continuity
Concentration
Fighting
Pulsing
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f.
• Evaluating Advertising Effectiveness
 Communication – Effect Research
• Copy testing
• Consumer feedback method
 Sales – Effect Research
•
•
•
•
•
•
Share of advertising expenditures
Share of voice
Share of consumers’ minds and hearts
Share of market
Historical approach
Experimental design
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SALES PROMOTIONS
Sales Promotion includes tools:
Consumer promotion
Trade promotion
Business and sales force
promotion
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OBJECTIVES
Consumer trial
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Relationship with a retailer
Sellers use incentive-type promotion to:
+ Attract new triers
+ Reward loyal customers
+ Increase the repurchase rates of occasional users
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Advertising versus Promotion
Advertising
Promotion
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Advertising
Promotion
• Advertising positions a product or
service against that of
competitors to convey a brand
message to consumers and to
enhance its value in the
consumer's eyes.
• Sales promotions include a
variety of strategies
designed to offer
purchasers an extra
incentive to buy, usually in
the short-term.
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Major Decisions
Establishing Objectives
Selecting Business and Sales Force
Promotion Tools
Selecting Consumer Promotion Tools
Developing The Program
Selecting Trade Promotion Tools
Implementing And Evaluting The Program
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 Establishing Objectives
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Carry new
item &
higher levels
of inventory
Gaining
entry into
new retail
outlet
Encouraging
off-season
buying
For
retailers
Encouraging
stocking of
related
items
Building
brand
loyalty
Offsetting
competitive
promotions
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 Selecting Consumer Promotion Tools
Market
Sale promotion objectives
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Competitive conditions
Cost-effectiveness
• Consumer Franchise Building
Free Samples
Gift
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Coupons
Consumer not Franchise-building
+
3
 Selecting Trade Promotion Tools
To carry the brand
To carry more units
than the normal
amount
Award money
To promote the brand
by featuring, display
and price productions
To stimulate retailers to
push the product
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• Challenges in managing trade promotions
To find it difficult to police retailer
Some retailers are doing forward buying
Some retailers are diverting
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Major Trade Promotion Tools
Price off: A straight discount off the list price on each case purchase during a stated time period
Allowance: An amount offered in return for the retailer’s agreeing to feature the manufacturer’s product
in some way. An advertising allowance compensates retailers for advertising the manufacturer’s
product. A display allowance compensates them for carrying a special product display
Free Goods: Offers of extra cases of merchandise to intermediaries who buy a certain quantity or who
feature a certain flavor or size
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 Selecting Business and Sales Force Promotion Tools
Major Business and Sales Force Promotion Tools
Trade Shows and Conventions: Trade shows are an
marketers may spend as much as
$11.5 billion business and business
35% of their annual promotion budget on trade show. Trade
1000-70000
shows attendance can range from a few
people. Benefits including generating
new sales leads, maintaining customer contacts, introducing new products, meeting new customers,
selling more to present customers and educating customers with publications…
Sales Contest: A sales contest aim at including the sales force or dealers to increase their sales results
over a stated period, with prizes ( money, trips, gifts…) going to those succeed
Specialty Advertising: Consists of useful, low-cost item bearing the company’s name and address, and
sometimes an advertising messages that salespeople give to prospects and customers. Common items
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are: pens, calendars, key chains…
 Developing The Program
Size
Total sales
promotion
budget
Conditions
Duration
Timing
Distributio
n vehicle
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 Implementing and Evaluating The Program
Lead time
• The time necessary to prepare the program period to launching
it
Sell-in time
• Begins with the promotional launch and ends approximately
95% of the deal merchandise is in the hand of consumers
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Sales data
Consumer surveys
Experiment
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EVENTS AND EXPERIENCES
a.
•Events Objectives
b.
•Major Sponsorship Decisions
c.
•Creating Experience
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a.
•Events Objectives
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 To identify with a particular target market or lifestyle
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 To increase salience of company or product name
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 To create or reinforce perceptions of key brand image associations
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 To enhance corporate image
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 To create experiences and evoke feelings
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 To express commitment to the community or on social issues
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 To entertain key clients or reward key employees
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 To permit merchandising or promotional opportunities
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b.
•Major Sponsorship Decisions
Choosing events
Designing sponsorship program
Measuring sponsorship activities
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c.
•Creating Experience
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PUBLIC RELATIONS
 Marketing Public Relations
• Launching new products
• Repositioning a mature product
• Building interest in a product category
• Influencing specific target groups
• Defending products that have encountered public
problems
• Building the corporate image in a way that reflects
favorably on its products
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 Major tools in MPR
Publications
Speeches
Event
Public service activities
Sponsorships
Identity Media
News
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DIRECT MARKETING
Direct marketing is the use of phones
to transfer of information to each
customer without using market
middlemen
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PERSONAL SELLING
Face to Face
Skype
Telephone
Values
Online Chat
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 The Personal Selling Process
Prospecti
ng.
Objection
Handling
Closing the
Sale
Making first
contact
The Sales
Calll (or
Sales
Presentati
on)
Follow-up
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 Prospecting
Identifying good customers and screening out poor ones by looking at:
•
Financial ability
•
Volume of business
•
Needs
•
Location
•
Growth potential
In order to qualify your prospects, one needs to:
• Plan a sales approach focused upon the needs of the customer.
• Determine which products or services best meet their needs.
• In order to save time, rank the prospects and leave out those that
are least likely to buy.
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 Making first contact
Make sure that you are on time.
Before meeting with the client, set some objectives for the sales call.
What is the purpose of the call? What outcome is desirable before you
leave?
Make sure that you’ve done some homework before meeting your
prospect. This will show that you are committed in the eyes of your
customer.
To save time, send some information before you visit. This will wet the
prospect’s appetite.
Keep a set of samples at hand, and make sure that they are in very
good condition.
Within the first minute or two, state the purpose of your call so that
time with the client is maximised, and also to demonstrate to the
client that your are not wasting his or her time.
Try to sincere and friendly.
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 The Sales call (Sales presentation)
The process where the salesperson meets and greets
the buyer and gets the relationship off to a good start
Remember:
It is best to be enthusiastic about your product
or service. If you are not excited about it, don’t
expect your prospect to be excited.
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Objection Handling
The process where sales people resolve problems
that are logical, psychological, or unspoken
Turn
objections
into
reasons for
buying
Be
positive
Take objections as
opportunities to
provide more
information
Handling
Objection
Seek out
hidden
objections
Ask the
buyers to
clarify any
objections
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 Closing the sales
Asking for
the order
The process where salespeople
should recognize signals from
the buyer, including physical
actions, comments, and
questions to close the sale
Offering
incentives to
buy, including
lower price or
additional
quantity
Making note
that the
buyer will
lose out if the
order is not
placed now
Closing
the
sales
Asking if the
buyer wants
this model or
another one
Reviewing
points of
agreement
Offering
to help
write up
the
order
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 Follow-up
 Follow up is necessary if the
salesperson wants to ensure
customer satisfaction and
repeat business
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WORD OF MOUTH MARKETING
Word-of-Mouth Marketing(WOMM) is the most powerful form of marketing.
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92%
WORD OF MOUTH MARKETING
Consumers believe recommendations from friends and family
64%
Marketing executives believe word of mouth is the most effective form of
marketing
6%
say they have mastered it
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Business to Consumer
to Consumer
Business to consumer
Consumer to consumer
Attractive message
Topic of conversation
Powerful emotions
Reasons for conversation
Every 15 minutes
there is a Vietnamese
infected with HIV
Trust and respect
Make conversation easier
Transmit information
Monitor the situation
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 5 Principles of Word of Mouth Marketing
Credibl
e
Transparent &
Trustworthy
Define,
Monitor &
Evaluate
Honest &
Authentic
Respect
ful
Social
Listening,
Participating,
Responding &
Engaging
Repeat
able
Over & Over
again
Measur
able
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WORD OF MOUTH MARKETING
Make your company: a
company
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References
• Principles of Marketing
• Marketing Management
• Wikipedia.org
• Knowthis.com (Knowledge source for marketing since 1998)
• Pm.com.vn
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GAME
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EVENTS AND EXPERIENCES
ADVERTISING
PUBLIC RELATIONS
SALES PROMOTIONS
PERSONAL SELLING
WORD OF MOUTH MARKETING
3
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